Magic Leap confirms $502 million Series D round

Mixed reality slash augmented reality startup Magic Leap announced today that it raised a $502 million Series D round led by Temasek with participation from EDBI, Grupo Globo, Janus Henderson, Alibaba Group, Fidelity Management and others. Just last week, a Delaware filing confirmed that Magic Leap authorized up to $1 billion in new shares.

“We’re excited to welcome Temasek and the other new investors in this round to the Magic Leap family,” Magic Leap founder and president Rony Abovitz said in a release. “We also greatly appreciate the strong support and partnership from our existing shareholders.”

It’s still not totally clear what Magic Leap is doing, but it sure has raised a ton of money (more than $1.9 billion) in order to do whatever it is that it’s doing. To date, we’ve been able to gather that the company may be launching a device called “Magic Leap One.” And last month, Bloomberg suggested Magic Leap may be gearing up to ship that device to a “small group of users” in the next six months or so.

You can listen to the Equity podcast crew talk about Magic Leap’s ambitions on their show last week.